Fact Check: Viral Post Claiming Bank Notes With Star Symbol Are Fake Is False
The claims suggesting that the new Rs 500 series notes with the ‘*’ symbol are fake are entirely false. These notes are genuine, legally valid, and were introduced as part of the new series after demonetisation in 2016.
- By: Abhishek Parashar
- Published: Jul 31, 2023 at 04:27 PM
New Delhi (Vishvas News) The fact is that the Rs 500 notes with the ‘*’ or star symbol are genuine and just as valid as any other notes. These notes were introduced as part of the new series that came into circulation after demonetisation in December 2016.
What’s Going Viral?
Sharing the viral picture, social media user ‘Ramchandra Rajpurohit’ (Archive) wrote, “These 500 notes with * symbol have started circulating in the market since last 2-3 days. Such note was returned from IndusInd Bank yesterday. This is a fake note. Today also a friend received 2-3 such notes from a customer, but due to lack of attention, he returned them immediately. The customer also said that someone had given this note in the morning. Take care of yourself There has been an increase in the number of hawkers carrying fake notes in the market. Appeal – Please be a conscious citizen, so spread this message to as many of your brothers as possible so that they can avoid harm and avoid reckless thieves. Thank you.”
Investigation:
The Rs 500 note seen in the viral post is a new series note, which was issued after demonetisation in 2016. Information about all the notes of this new series is available on the RBI website. The Reserve Bank of India (RBI) issued a release on December 16, 2016, stating that “the new Rs 500 notes with the ‘*’ symbol would be part of the Mahatma Gandhi (New) Series. The notes would have the inset letter “E” in both number panels and carry the signature of RBI Governor Urjit Patel. They also have the logo of Swachh Bharat on the reverse side.”
The RBI clarified that these Rs 500 notes with the ‘*’ symbol were indeed genuine and would be legal tender, just like other notes from the new series. They also mentioned that this symbol had been used on other denominations (Rs 10, 20, 50, and 100) previously, and it was not a cause for concern.
In light of the viral claim, Vishvas News reached out to an RBI spokesperson, who confirmed that the Rs 500 notes with the ‘*’ symbol were not fake and that the claim was a mere rumour. The spokesperson reaffirmed that these notes were valid and fully acceptable, just like any other notes in circulation.
The user who shared the viral post is inspired by a particular ideology. Fact-checking reports related to demonetisation and other claims can be found on the Vishvas News website. Earlier, it was claimed about the Rs 500 notes of this new series that the Rs 500 notes with the green stripe near the picture of Gandhiji are fake. Vishvas News found this claim to be false in its investigation, whose fact check report can be read here.
Conclusion: The claims suggesting that the new Rs 500 series notes with the ‘*’ symbol are fake are entirely false. These notes are genuine, legally valid, and were introduced as part of the new series after demonetisation in 2016.
- Claim Review : 500 rupee notes with star or * mark are fake.
- Claimed By : FB user 'Ramchandra Rajpurohit'
- Fact Check : False
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